Hyprop sells 50% of Woodlands Boulevard for R791m

Hyprop has entered into separate agreements to sell a 50% undivided share in the Woodlands Boulevard shopping centre, together with its rental enterprise, to Primegrowth Retail Property, Witfontein Mile and Twin City Trading 2 for a combined R791 million as a single indivisible transaction.

The deal, announced Monday, 9 February 2026, is said to “align with the group’s long-term priorities” and support its “prudent approach to capital allocation and portfolio optimisation”.

Hyprop share price

Strategic rebalancing and growth

The R791 million sale price includes an escalation clause effective from 1 August 2025 until the transfer is finalised. According to CEO Morné Wilken, this move is less about exiting and more about optimisation.

“Recycling capital through this strategic sale enables us to invest capital into the Western Cape and Eastern Europe, whilst participating in the future growth of Woodlands Boulevard via our remaining 50% undivided share, and to deliver sustainable, risk-adjusted total returns for our investors,” said Wilken.

Read: Hyprop’s Hyde Park Corner shopping centre sale falls through

Partnering for performance

The 50% stake was acquired by a trio of purchasers who previously collaborated with Hyprop during the 2021 disposal of Atterbury Value Mart.

This existing relationship is expected to streamline the transition:

• Joint management: Asset management responsibilities will now be shared between Hyprop and the new co-owners.
• Operational continuity: The current Woodlands Boulevard centre management team remains in place.
• On-site supervision: Twin City will assume oversight of the on-site property management team.

“Woodlands Boulevard is an excellent asset … Retaining our 50% stake ensures that we remain actively involved in the centre’s promising future,” concluded Wilken.

Read: Hyprop update supports improved consumer sentiment

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